58,635 Shares in PIMCO Municipal Income Fund III (NYSE:PMX) Purchased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC acquired a new stake in shares of PIMCO Municipal Income Fund III (NYSE:PMX) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 58,635 shares of the investment management company’s stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new stake in shares of PIMCO Municipal Income Fund III in the third quarter valued at approximately $156,000. Hennion & Walsh Asset Management Inc. grew its stake in PIMCO Municipal Income Fund III by 67.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 804,465 shares of the investment management company’s stock valued at $6,645,000 after buying an additional 323,484 shares in the last quarter. Plimoth Trust Co. LLC bought a new stake in PIMCO Municipal Income Fund III during the 3rd quarter valued at $84,000. B. Riley Wealth Advisors Inc. lifted its position in shares of PIMCO Municipal Income Fund III by 19.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 41,010 shares of the investment management company’s stock worth $325,000 after acquiring an additional 6,600 shares in the last quarter. Finally, Arbor Trust Wealth Advisors LLC bought a new position in shares of PIMCO Municipal Income Fund III in the second quarter worth $103,000.

PIMCO Municipal Income Fund III Price Performance

Shares of NYSE PMX traded down $0.01 during mid-day trading on Thursday, hitting $7.82. The company had a trading volume of 8,006 shares, compared to its average volume of 94,707. PIMCO Municipal Income Fund III has a 1 year low of $6.15 and a 1 year high of $8.52. The stock’s 50-day moving average price is $8.12 and its 200-day moving average price is $7.81.

PIMCO Municipal Income Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.033 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Friday, October 11th.

About PIMCO Municipal Income Fund III

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.